In the year 2018, the number of B2B SaaS startups in India was around 50,000 and since then, this number has surely increased.
Most of the startups are unable to figure out the reason behind their failures or slow growth. The thing is that about 10% of startups in India fail within their first year of origination.
This is sad but, it’s true. Although we have seen some of these startups grow and make it to the big leagues, it becomes almost impossible for some to generate even a few thousand leads.
So, in this article, the experts at Marketerneeds have jotted down some of the most significant points that can help startups in ways they haven’t imagined.
Over 70% of startup founders eventually realize that their intellectual property is not a competitive advantage. Entrepreneurs often start with an idea they strongly believe is unique and innovative. Most founders quickly realize that the idea, product, or process alone, even if legally protected, is not valuable without execution.
There are some facts that startups need to keep in mind in order to start their road to victory.
It is highly like that their unique idea has already been implemented at some point in some corner of the world.
So, in order to stand out from the competitors, startups need to have a strategy ready that can be implemented so as to boost morale and gain traction.
“If you are not embarrassed by the first version of your product, you’ve launched too late.”
–Reid Hoffman, LinkedIn Co-Founder, and Venture Capitalist
So, to ensure your success in this world of B2B SaaS, you need to be ready, keeping these tactics in mind.
Tactics For Growing A B2B SaaS Startup:
Building relationships with the respective community is important. Communities represent the best of your niche.
This means that building better relations within the community and developing a positive impact can make the magic happen.
The first step in this journey is joining these respective communities. It can be done only with the help of proper communication.
One other thing you can do is developing your own community but, it means that you will have to do a lot of work.
But, this pays off in the end. The thing is that the members of the community will refer to your product if you have made a positive impact on them.
Although you won’t be directly promoting your product or company, you can gain a lot.
Referrals Are Important:
Any person who understands the working of your product and knows about its beneficial aspects would be able to easily refer your product.
It has been known that referrals can increase your sales by four times.
If you consider Oyo, one of the most promising applications from India, they provide offers to those who refer their application.
That’s how one can incentivize their referrals.
It isn’t easy but, it is surely doable. Although it requires some investment, it surely becomes an asset when in need.
Many startups have seen a huge boost in their sales when they saw put up an offer alongside referrals.
If we consider Dropbox, using this type of referral marketing, it gained a huge amount of growth that amounted to roughly 3900%.
Small Tools Are Easily Marketable:
If you are building a small tool that comes in handy in the day-to-day life of a person, it becomes far easier for more people to use it.
The more people use it, the more they will refer, and using the above tactic, you can market your product with great ease.
But, you need to stop thinking of making something big and rather focus on the small things that people want in their daily lives.
That’s how Noom has gained over 50 million users.
Noom is an application that tracks your day-to-day health and diet. Although the idea is simple, it has generated a humongous number of leads.
Increase The Compatibility Of Your Product:
If you carefully think about how small applications make it big, you will understand how B2B integrations have become quite common.
So, if there is another product that you think can become better with the integration of your facilities, it becomes easier for both organizations to make a profit.
This is one of the most ignored facts that lead to a halt in the growth of many B2B space startups.
It is necessary for you to integrate your product with different applications and services so that it becomes easy for you to market as well as make a profit from your strategy.
Consider the Donotpay site. It will cancel all your subscriptions without you having to worry about them.
This means that their services are integrated with other major services like Netflix, Noom, etc.
So, using this tactic, you can easily increase the reach of your product and services.
This is because the people looking for the services of other applications will surely come to you if your services are combined with these applications.
Expert Advice From Marketerneeds:
Marketerneeds experts have studied the market for a long and provided you with this list.
If you are a B2B SaaS startup or are planning to start one, you need to definitely check these facts before you start your journey in this field.
Generating leads is a major issue with many organizations and the growth of some organizations even comes to a halt at some point in their journey.
This is because they are not able to find the reason behind this blockage.
All of the successful B2B SaaS startups have included these tactics in their journey and so, you need to do so too.
For more such advice, you need to JOIN US and hop on for an adventurous ride towards success. There are many B2B SaaS startups that have never been able to survive this brutal competition but, together with the help of our experts, you can become the successful organization that you desired.